1. What are the key limitations of per capita national income as a concept of well-being? Explain the nature of limitation in each case. Which of these limitations can be adjusted for? Are they in fact adjusted?

2. What is the basis of the concept of human development? Describe fully the formula by which the “human development index” (HDI) is calculated.

3. Briefly describe the Autility@ and Acapability@ concepts and the corresponding measures (per capita national income and the Human Development Index respectively) of economic well-being. Assess the strengths and weaknesses of each.

4. Discuss some of the key sources of diversity among countries usually classified as "less developed countries".

What characteristics are widely shared among them that might justify their being so classified?

5. Developing countries vary along many dimensions yet we routinely group them together. Spell out and justify both halves of this proposition.

6. What are the Millennium Development Goals? Enumerate at least 5 of them and briefly describe the nature of the objective or target that has been set under each.

7. What are the main issues differentiating the advocacy of growth versus the advocacy of human development?

8. For both Weber and Marx, the industrial revolution in Western Europe was the child of capitalism. How, then, do their views of the development of modern economic growth differ?

9. Sum up the main accounts of Europe’s industrial revolution, each in a sentence or two. If it is true that the industrial revolution was the child of capitalism, what, in your own view, accounts for the rise of capitalism itself?

10. How would you characterize Western Europe's pre-capitalist economy? What features of that economy explain economic stagnation as compared to the modern economic growth that Europe later experienced?

11. Evaluate the relevance of the colonial impact on third world countries for their contemporary development problems and prospects.

12. Third world countries, as late industrializers, face both additional hurdles and advantages compared to early industrializers. Substantiate this view.